Push and Pull Marketing in Context of Online, Mobile, and Big Data Business Models
Marketing is usually taken to be the entire gamut of activities that span customer acquisition, retention, and customer prospecting. In this context, we are used to receiving marketing messages and advertisements that entice us and persuade us to buy and consume products. This is the traditional concept of push marketing wherein marketing messages about new […]
Business Marketing Models
There are primarily three models in business to business marketing: Business Model 1 – Traditional Local Small Business Model The above model includes small locally operated businesses which are not much organized. Organizations categorized under Traditional local business model still use primitive methods of promoting a particular product or service. Such businesses are generally not […]
Misunderstandings about Customer Relationship Management (CRM)
Many companies have misconceptions about CRM in regard to assessing customer satisfaction in order to enhance business. There are several misunderstandings in Customer Relationship Management to be checked otherwise these may cost the organization revenue and profits. Identifying CRM with a software system- CRM is a business strategy which consists of people and business processes […]
Stages in Market Research Process
The market research process involves a round of separate stages of data interpretation, organization and collection. These stages could be considered as a benchmark of market research, but it depends on an organization how they have encapsulated their strategies to follow this process. Hence some of the interlinked stages could be conducted repeatedly and some […]
Brief History of Multi Level Marketing
Multi Level Marketing or Network Marketing as it is called world over happens to be a fast growing phenomenon. The fact that anyone, anywhere can become a distributor and earn income from building the network without having to sacrifice any other occupation or additional investment into this business makes it very attractive for people from […]
We are living in exciting times. For anyone and everyone, there are abundant opportunities to earn decent income and achieve economic wellbeing, provided one is ready to work hard and work smart. For people who are interested in earning a second income or are interested in making selling a career, Multi Level Marketing offers unlimited opportunity.
To be successful in Network marketing you need to be a born leader or a sales man.
Network marketing is based on building network and relationships with people and selling through them.
Selling through Network marketing is something that you can be trained in and this will be done by the Company that you choose to tie up with as a distributor.
When you talk to the people about Network marketing it is quite likely that you will either get a very good review or a poor review from someone who hasn’t been successful. If a person has not been successful in MLM, it cannot be due to any fault of the scheme or the product but mainly due to inconsistency of focus, disinterest or lack of proper ground work and many other subjective factors. The fact the MLM works has been proven and there are so many who have made their millions out of Network marketing or Pyramid selling.
If you have decided to take up MLM and want to make sure that you are successful, it is important that you invest the right kind of focus, energy and effort in the selling process.
The selling process mainly consists of identifying the right kind of people who would be interested and would be able to join the MLM network and recruiting them as distributors as well as helping them build similar networks.
Your sales process does not start with talking to anyone and everyone about the MLM concept. There is a method and homework that you should follow to first identify the right kind of people as well as in building the right approach most suitable to each person.
Remember at all times that you are spending your time and energy into building a relationship and therefore you should aim at getting a positive result out of your prospecting activity. If you find that the people you approach are not interested, then you should ask yourself if you are approaching the right people?. The first step of MLM networking begins with identifying and qualifying the right people for your network.
Your first step of homework begins with having to build a list of prospects to start with.
At this stage you should remember that you are not an established Networking professional who can reach out to a large crowd of people and at the stage that you are in, you are best suited to approach people who are known to you.
Therefore it works best to make a list of people who you know and have been acquainted with. Of course the list would include all of the people in your family, extended family and your friends as well as social circle.
Apart from this list, you can also list down the people who are providing services to you or with whom you are engaged in professional capacity. Such list can include your doctor, the plumber as well as electrician, gardener or all other people who are engaged with you in your life as well as the members of your community.
Your professional contacts could include your colleagues, associates, customers, vendors and members of your association etc.
It would be quite easy for you to spend a few hours listing out your contacts. However it does not mean that all the people in your list qualify to be good prospects. You would now need to filter out the names of people who you think would be good prospects.
At this juncture you will need to assess them from your understanding and see if they have any need or motive that would make them take up MLM and join the network. Anyone and everyone takes up a new activity or a project only when it satisfies any one of their needs.
Many people who are salaried and have a family of growing children are likely to be in need or additional income to meet their needs. Such people would be the right prospects who would be ready to take up additional jobs or take up business opportunities’ for earning the additional income.
From the list of people, you can list out the prospects who may not be having steady job or are stagnated in their careers and jobs. By introducing the MLM network to such people you will be giving them an opportunity to do something enterprising and achieve results.
Apart from those who need additional income and those who are not happy with their careers, there will be another category of people who do not need any income but are looking for exciting social life and have a flair for networking with people and building relationship. For such couples, Network marketing can complement their skill sets and provide them with a larger platform to make friends. Such people are likely to be more successful as interaction with people comes naturally to them.
Apart from the above needs, you might identify and list down many more qualifying needs and shortlist the people as suitable for further prospecting to build your MLM network.
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Finding and Keeping Customers in Multi Level Marketing (MLM)
February 12, 2025
